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28 Dec 2009

Day Trading Tips in Indian Shares | SBI | 29 Dec-03 Jan 2010


The level of 2277 is very important for State bank of India as it is its 50 day moving average. The stock has witnessed strong support at the levels of Rs 2,150.

Thus as a strategy one can avoid being in the stock till the time the stock remains below the level of Rs 2277 and in case stock moves above this price barrier than stock can target the levels of Rs 2,350.

However if stock fails to move above the level of Rs 2277 than it can fall to the levels of Rs 2,150-Rs 2,100. Thus as a strategy one can short the stock with stop loss as Rs 2301.

Presently stock is consolidating and in the medium term the share can move between a broad range of Rs 2000-2500 levels.


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